Why BioNTech Stock Jumped Today

Shares of BioNTech (NASDAQ: BNTX) were up by 5.6% as of 3:24 p.m. ET Tuesday. The gain came after the Food and Drug Administration (FDA) expanded the Emergency Use Authorization (EUA) for the COVID-19 vaccine developed by Pfizer (NYSE: PFE) and BioNTech to include booster doses for 5- through 11-year-olds.

So far, more than 8 million children in that age range have received a primary two-dose series of the Pfizer-BioNTech COVID-19 vaccine, now being marketed as Comirnaty. The expanded EUA allows these children to receive a booster dose as soon as five months after receiving the second dose in the primary series.

This FDA decision probably won't result in any near-term financial impact for BioNTech. The federal government already has a supply deal in place with Pfizer and BioNTech for 600 million doses of the companies' COVID-19 vaccine. Around 432 million of those doses have been delivered thus far.

Continue reading

Source Fool.com